Lloyds Banking Group (NYSE:LYG) Sees Strong Trading Volume

Shares of Lloyds Banking Group plc (NYSE:LYG - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 18,941,332 shares traded hands during trading, an increase of 107% from the previous session's volume of 9,150,507 shares.The stock last traded at $2.48 and had previously closed at $2.45.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.17.

Lloyds Banking Group Stock Performance

The stock has a 50-day moving average of $2.41 and a 200-day moving average of $2.25. The firm has a market cap of $39.66 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.48 and a current ratio of 1.48.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. The business had revenue of $19.05 billion for the quarter. As a group, analysts anticipate that Lloyds Banking Group plc will post 0.32 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be given a $0.046 dividend. This represents a yield of 5.9%. The ex-dividend date is Thursday, April 11th. Lloyds Banking Group's dividend payout ratio is presently 45.00%.

Institutional Investors Weigh In On Lloyds Banking Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Naples Money Management LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $25,000. TCG Advisory Services LLC acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $25,000. Radnor Capital Management LLC acquired a new position in shares of Lloyds Banking Group during the 3rd quarter worth approximately $26,000. Atria Wealth Solutions Inc. acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $26,000. Finally, D Orazio & Associates Inc. acquired a new position in shares of Lloyds Banking Group during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.